Sysco's fiscal 4Q profit retreats by 11%
Aug 16, 2006 10:20 AM, from staff and wire reports
Houston TX-based Sysco Corp's profit for the fiscal fourth quarter ended July 1, 2006, decreased 11%, due partly to soaring fuel costs and pension expenses.
The foodservice distributor's profit for the quarter ended July 1 dropped to $254.1 million, versus a profit of $284.7 million in the comparable period a year earlier.
Sysco's revenue for the 2006 quarter gained 7% to $8.51 billion, compared with $7.98 billion in the prior-year quarter.
For the entire fiscal year, profit declined 11% to $855.3 million, in contrast to $961.5 million one year ago. Revenue for the fiscal year advanced 8% to $32.63 billion, versus$30.28 billion the previous year.
